Four Legal Tools You’ve Got to Master
The basic foundation of wealth consists of four legal tools. If you understand the tools and know how to use them, your chances for success are much better. If you and/or your parents don’t have the four tools already, it is time to get moving. It’s worth every effort you make and every dime you spend getting the foundation in place. Here’s a basic overview of the four tools:
Tax Benefits of Employing Your Child
A key strategy in tax planning is to legally transfer your taxable income, which may be in a high tax bracket, to others around you who may be in a lower tax bracket. Putting your child on the payroll is a great way to do this, but it has to be done correctly for it to work.
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